The Armenian energy sector is about to change towards a strengthening of renewable energy resources away from today’s dependence on imported fossil fuels. The Armenian government has adopted several laws facilitating the development of clean energy projects and established the non-governmental Renewable Resources and Energy Efficiency Fund (R2E2) to promote renewable energy in Armenia. In order to support the efforts to benefit from the presence of solar, hydro and other renewable energy sources, the U.S. Embassy together with local and international partners has initiated the “Renewable Energy in Armenia” conference. This summit took place yesterday in Yerevan and has brought together leading U.S. and European companies and representatives of the Armenian government, energy utilities and businesses aiming to present and evaluate the opportunities of renewable energy in Armenia and to explore new technologies and best solutions for the country.

According to the Ministry of Energy Infrastructures and Natural Resources of the Republic of Armenia, the country has a potential of 1,000 MW solar power production. The government has established programs and mechanisms to boost the clean energy sector in order to utilise this huge solar potential.

In the course of yesterday’s Renewable Energy Conference, we have been invited to speak about the prospects of solar energy, especially in Armenia. As international renewable energy company and experts in the solar sector, we presented the advantages and current trends of solar energy and presented relevant examples and our realised projects in other countries to illustrate how Armenia can benefit from the expansion of the local renewable energy sector and how investors and stakeholders can profit from the current development of the energy market.

We have been invited to speak about the prospects of solar energy – especially in Armenia.

“Due to its geographical conditions, Armenia has a significant potential for a wide variety of solar PV projects”, states Sebastian Bovensiepen, our Chief Operating Officer, who attended the conference together with the Chief Technical Officer, Mr. Thomas Beindorf. “As globally active energy provider, we were glad about the opportunity to participate in this conference. Our aim was to demonstrate that investing into a developed and competitive market such as Armenia is always worthwhile. With its considerable opportunities in the renewable sector, the country will be able to cover a huge portion of its energy demand with clean energy technologies.”